Newbie investor looking to start investing in Arlington, TX

[Antonio Franco]

Hello everyone,

Been listening to the bigger pockets podcast for a while and just decided to give it a go. My name is Antonio, I am 22 years old, currently in the military and plan on getting out here soon to pursue my dream of becoming a physical therapist, while also investing in real estate. I like to lift weights, hike, and sometimes just watching movies in the house all day.  I do have some time before I get out, but I would just like to get started networking and learning from others to give me a head start. I am looking to move to Arlington, TX ( July or August of 2021) in order to attend UTA and would like to purchase a house that I plan to house hack, and use my G.I bill for extra money for future investments. For those unfamiliar with the G.I bill, it is an agreement with the military which after 3 years of active duty military service they will pay for 3 years of college, but also gives a monthly housing allowance. For Arlington, I would be receiving around $1,800 housing allowance as long as I am in school.

I think real estate is such a cool thing. I love the idea of other people paying for your mortgage, and you basically get a free house, even if your have to put some work in to make it happen. Even better, you can make monthly cashflow! I love hearing all the stories of how people got started in investing, and how real estate gave them the financial freedom to do whatever they want and be their own boss. This really pumps me up about real estate! I just purchased some of the bigger pockets books- Beginner bundle, David Greene bundle, House hacking, and Managing rental properties. Really looking forward to educating myself. I hope to be surrounded by people who are pumped up about real estate investing as I am!

Before I set any goals I would like to start first, but I am mainly looking at long-term rental properties to own for a long time. My thought is to get cashflow through rental properties and after 30 years own a house and just keeping getting payments. This is a retirement plan in itself! If I owned just 5 houses that are worth $200k I would be a millionaire through assets. I am sure many of you are way surpassed that, I hope to learn some lessons from every one of you.

Thank you for reading my post, feel free to respond with any advice or even if you want to comment or chat.

P.S - I am also open to looking at houses in the Dallas, and Fort Worth areas. Planning on attending TWU to join the physical therapy program after I complete a Bachelor's in kinesiology. The TWU physical therapy program is in Dallas near Parkland hospital.

[Shane Griffin]

Antonio, welcome to Bigger Pockets! First let me say, thank you for your past and continued service to this country! 

I started investing in real estate at 23 with a house hack and I think it is the perfect way to get started. I am from Arlington and still work in Arlington. My suggestion would be the following:

1. Buy in Arlington as close to UTA as possible. The university is growing very quickly and housing is still affordable in Arlington. If you start venturing into Dallas and FW the prices increase and you will also be further from school. House hack during your undergrad and move out and do it again for your graduate school. Keep the first one as a rental. 

2. Learn before you buy, but don't stress too much about learning it all prior to buying your house hack. Find a house in a decent neighborhood with multiple bathrooms and you'll be doing great. 

3. Like David said, use the VA loan if you can, you'll have very little, if any down payment.

Welcome to the start of your real estate journey! Let me know if I can answer any other questions about Arlington or the surrounding areas.

Shane Griffin